Retail investors submitted orders in value of 4.152 billion lei ( over 937 million euros) following Romgaz public offer, on this side the offer being oversubscribed by nearly 15 times over, representatives of some brokerage houses told.

Data recorded in the stock market system at 17:15 local time showed that retail investors subscribed for over 129.77 million shares. Subscription orders could be submitted until Thursday, at 13:00 local time, and brokers can enter the orders into the exchange system until 23:30 local time.

The initial public offering, by which the state wants to sell a 15 percent stake in Romgaz began on October 22. IPO included shares and Global Deposit Certificates for the public in Romania and shares and Global Depositary Receipts (GDRs) for institutional investors from abroad. The Ministry of Economy is offering up to 57,813,360 shares representing between 1.39 billion lei and 1.85 billion lei ( 426.66 million U.S. dollars up to 568.88 million U.S. dollars).

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